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Celestial Dynasty starts Dutch auction tender offer for 4¼% bonds
Chicago, May 19 – Celestial Dynasty Ltd. started a cash tender offer for up to $150 million of the $650 million 4¼% guaranteed senior notes due 2029 (ISIN: XS2009282539), according to an announcement.
The notes are guaranteed by NWS Holdings Ltd.
The tender offer is being conducted as a modified Dutch auction. The minimum purchase price is $940 per $1,000 note. Accrued interest will also be paid.
Tender instructions from noteholders may be either competitive or non-competitive.
All non-competitive offers will be accepted if competitive offers are accepted.
Tenders may be prorated.
The expiration is 11 a.m. ET on May 27.
Results will be announced on May 30.
Settlement will take place on June 1.
The company is conducting the tender offer to optimize the capital structure and cost of financing of the guarantor.
Merrill Lynch (Asia Pacific) Ltd. is the dealer manager (+44 20 4513 6933, +852 2319 4130, nwsholdings@investor.morrowsodali.com, https://bonds.morrowsodali.com/nwsholdings).
Morrow Sodali Ltd. is the information and tender agent (+852 3508 3739, +44 20 7996 5420, DG.LM-EMEA@bofa.com).
Hong Kong-based NWS Holdings operates businesses in infrastructure, facilities rental, construction-related contracting and public transport.
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